Why Chevron, Exxon, and ConocoPhillips All Fell by Double Digits in February
Shares of integrated energy giant Chevron (NYSE: CVX) fell roughly 12% in February, according to data from S&P Global Market Intelligence. Peer ExxonMobil's (NYSE: XOM) stock dropped even more, declining by 17%. Drilling-focused ConocoPhillips (NYSE: COP), meanwhile, was off a bit more than that, with its price falling by a little over 18%. By comparison, the S&P 500 Index fell around 8% in the month.
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If you look to the start of the year, however, the picture changes a bit. Chevron's stock price was off by 22% in the two-month span, Exxon's was down by 26%, and ConocoPhillips fell about 25%. Over that same period, the S&P's decline is still just about 8% or so. The coronavirus is important here, but there's a bigger story for these energy companies than the broad market drop that took place in February.
Source Fool.com
